At Your Side During Complex Marital Property Division
Simply stated, marital assets are property acquired during the marriage. They are subject to equitable, but not necessarily an equal division. A number of factors come into play and include:
- Income earning capacity of each party
- Age of the parties
- Health of the parties
- Size of the estate
- Financial needs of the parties
Only marital property is subject to property division in Peoria IL and the rest of the state. Challenges exist, especially when assets are commingled or a long-term marriage where both parties benefit from the household income and investments.
Our job is to work with you to determine marital property versus the nonmarital property. We also take on complex asset division that involves 401(k)s, pensions, and retirement accounts.
Personalized Representation. Customized Strategies.
Treating each divorce case that comes to our firm individually, we will customize strategies for you. Maintaining assets following the divorce are also considered. You may face difficult decisions. Keeping your house requires income to pay the mortgage and property taxes. Selling or relinquishing your house to the other party may be an option.
Contact Essig Law Office at 309-354-3898 for a free consultation with a Peoria IL divorce lawyer. You can also email our firm. We serve clients throughout Peoria, Tazewell and Woodford County.